Portland Oregon Legal Planning News
When creating a trust with a Portland, Oregon trust lawyer, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because trust property passes outside the last will and testament or intestacy law.
Read MoreThey say celebrities are “just like the rest of us,” and that’s certainly true when it comes to estate planning. While no one likes to think about (or plan for) their incapacity or death, there are real-life consequences for not doing so. It doesn’t matter if you are a billionaire or just an average Joe, everyone needs a plan to protect their assets and their family if something happens to them.
Read MoreWhen most people think about estate planning tools such as power of attorney, they imagine that they are solely for people who already have children, who have significant assets, or who are nearing the end of their lives. However, you may be surprised to know that many Portland, Oregon will lawyers also recommend that college students have powers of attorney in place for both their healthcare and their finances. While your college-aged child may not require other aspects of a full estate plan, these power of attorney documents could nevertheless be vital.
Read MoreWhether you’re a single senior who lives alone or one who lives with a partner, establishing a new estate plan or modifying an existing one is essential. You might wish to leave assets to your partner that they could not get through intestate succession, or maybe you have children you want to leave your assets to. Perhaps there are organizations you want to receive a charitable donation upon your death. Whatever your final wishes, you should create a legally enforceable estate plan now.
Read MoreCreating a comprehensive estate plan can protect your interests and your family’s future. When you work hard to earn a living and obtain assets, it’s natural to want to pass them down to your children or dependents when you pass away.
Read MoreInheriting any assets from someone’s estate could benefit a person financially. However, it can also create some challenges. Cash and stock inheritances come with various advantages and disadvantages. Although they provide the funds someone might need to pay necessary expenses or grow their portfolio, some complications could arise.
Read MoreIn general, middle-income seniors have income and assets that make them less likely to qualify for Medicaid. At the same time, they may not have adequate resources to pay for the rising costs of housing and care options they need.
Read MoreEstate planning is an emotionally challenging task at every step of the process. Whether you are writing your own will, helping an older relative plan their estate, or serving as the executor of the estate of a deceased loved one, you must deal with all the feelings you have about your own death or that of someone close to you.
Read MoreOctober 17th-23rd marks National Estate Planning Awareness Week, which is a key reminder of just how important estate planning is for everyone. Whether you are a 20-something new parent just starting out, a wealthy entrepreneur, or a senior citizen relying on others for long-term care, estate planning provides a solid legal foundation for protecting your family, your financial security, your wishes and your independence through all of life’s transitions.
Read MoreIt can be difficult to say goodbye to the things we own. Older adults might have an even harder time doing so because many of their possessions may hold decades of meaning or sentimental value, and the thought of parting with these mementos can bring up a lot of unexpected emotions.
Read MoreIt is no secret that being a single parent is challenging. In addition to the day-to-day struggles of raising children on your own, you may also have concerns about what the future might hold for your kids if anything were to happen to you.
Read MoreGoing through a divorce can be painful, overwhelming, and stressful. It's the end of one chapter and the start of another in your life. Although it might be the right decision, you're forced to confront various issues. For example, you and your ex must agree to the terms of the divorce, such as child support, alimony, and property division.
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